{"id":17473,"date":"2023-02-10T00:35:07","date_gmt":"2023-02-10T00:35:07","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/aave-launches-stablecoin-gho-on-ethereum-goerli-testnet-with-open-source-codebase-and-audits-altcoins-bitcoin-news\/"},"modified":"2023-02-10T00:35:07","modified_gmt":"2023-02-10T00:35:07","slug":"aave-launches-stablecoin-gho-on-ethereum-goerli-testnet-with-open-source-codebase-and-audits-altcoins-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/aave-launches-stablecoin-gho-on-ethereum-goerli-testnet-with-open-source-codebase-and-audits-altcoins-bitcoin-news\/","title":{"rendered":"Aave Launches Stablecoin GHO on Ethereum Goerli Testnet with Open Source Codebase and Audits \u2013 Altcoins Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Aave Companies, the firm behind the decentralized finance (defi) project Aave, has announced the launch of a stablecoin called GHO on the Ethereum testnet network Goerli. The codebase is available on Github and has undergone audits by Open Zeppelin, Sigmaprime and ABDK.<\/strong><\/p>\n

Aave Invites Programmers to Test GHO Before Mainnet Deployment<\/h2>\n

On Thursday, Aave Companies announced<\/a> the launch of its native stablecoin GHO on the Ethereum Goerli testnet. The company also released the open-source codebase on Github. The developers of Aave are inviting programmers and prospective integrators to begin testing GHO as it prepares for deployment on the Ethereum mainnet.<\/p>\n

Three audits<\/a> conducted by Open Zeppelin, Sigmaprime, and ABDK focused on the deployment of GHO. Upon its launch on the Ethereum mainnet, GHO will be similar to Makerdao\u2019s DAI token in that it will be overcollateralized and pegged to the U.S. dollar. Aave Version 3 (V3) does not permit flashloaning of the stablecoin. The community is being asked to consider adding a second facilitator, \u201cFlashminting,\u201d at launch to address this issue.<\/p>\n

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It\u2019s GHO time! @GHOAave<\/a> is now on Ethereum\u2019s Goerli Testnet!<\/p>\n

\ud83d\udc7b https:\/\/t.co\/cM58b6qSBa<\/a> pic.twitter.com\/xueGERoqnw<\/a><\/p>\n

\u2014 Aave (@AaveAave) February 9, 2023<\/a><\/p>\n<\/blockquote>\n

Flashminting will enable Aave users to create GHO in a single transaction, similar to flashloans, but without borrowing from a pool. An audited codebase for the Flashminter Facilitator software is available, and the decision to include it will be put to a vote among the Aave community through the Aave Decentralized Autonomous Organization (DAO). The Aave DAO will manage the control of the GHO facilitator. The team says that before the official GHO mainnet launch, there will be additional testing and research.<\/p>\n

Changes are required to STKAAVE to enable the implementation of GHO\u2019s discount rate, and a snapshot needs to occur for the Ethereum V3 Facilitator and Flashminter Facilitator. \u201cA snapshot will then occur to greenlight these as the first two facilitators for GHO,\u201d according to Aave. The company has also introduced a bug bounty<\/a> and is asking key contributors to the DAO to start discussing the framework for onboarding new facilitators.<\/p>\n

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Aave community<\/a>, Aave Companies<\/a>, Aave Decentralized Autonomous Organization<\/a>, Aave Version 3<\/a>, ABDK<\/a>, Altcoins<\/a>, audits<\/a>, bug bounty<\/a>, Codebase<\/a>, control<\/a>, DAI Token<\/a>, DAO<\/a>, decentralized finance<\/a>, DeFi<\/a>, Defi Project<\/a>, deployment<\/a>, Developers<\/a>, discount rate<\/a>, Dollar Altcoins<\/a>, Ethereum<\/a>, Ethereum Testnet<\/a>, Ethereum V3 Facilitator<\/a>, facilitator<\/a>, flashloaning<\/a>, Flashminter Facilitator<\/a>, Flashminting<\/a>, GHO<\/a>, github<\/a>, Goerli<\/a>, key contributors<\/a>, Mainnet<\/a>, makerdao<\/a>, native<\/a>, onboarding<\/a>, Open Zeppelin<\/a>, overcollateralized<\/a>, programmers<\/a>, prospective integrators<\/a>, Research<\/a>, Sigmaprime<\/a>, Stablecoin<\/a>, STKAAVE<\/a>, Testing<\/a>, Thursday<\/a>, U.S. dollar<\/a>, v3<\/a><\/div>\n<\/div>\n

What are your thoughts on Aave\u2019s latest move with the launch of GHO on the Ethereum Goerli testnet? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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